Grayscale Solana Staking ETF Amends Trust to Require Staking Distributions

What Happened
Grayscale Solana Staking ETF (GSOL) filed an 8‑K reporting that, on August 6, 2026, Grayscale Investments Sponsors, LLC (the Sponsor) and CSC Delaware Trust Company (the Trustee) entered into a Third Amended and Restated Declaration of Trust and Trust Agreement. The new agreement amends the Trust Agreement to require the Trust to convert Staking Consideration to cash no less often than quarterly and to distribute the net cash proceeds of staking rewards to shareholders (the Trust intends monthly, but no less than quarterly, distributions). The filing was made August 7, 2026.

Key Details

• Effective date of the Third A&R Trust Agreement: August 6, 2026 (filed via 8‑K on August 7, 2026).
• Parties: Grayscale Investments Sponsors, LLC (Sponsor) and CSC Delaware Trust Company (Trustee).
• Distribution mechanics: Trust must reduce Staking Consideration to cash at least quarterly and promptly distribute cash proceeds net of the Staking Fee and other Trust expenses; intended cadence is monthly but at least quarterly.
• Additional actions: Trust intends to file a prospectus supplement under Rule 424(b)(3) to update disclosure; shareholders are advised to consult tax advisors regarding tax consequences.

Why It Matters
This change formalizes a mandatory cash‑distribution framework for staking rewards received by the ETF, which may affect the timing and form of returns shareholders receive from GSOL. Distributions will be net of a Staking Fee and any Trust expenses, so the amount and frequency of cash payments depend on actual staking receipts and expenses and cannot be predicted with certainty. Investors should review the forthcoming prospectus supplement and consult tax advisors about potential tax impacts.